Wednesday December 3, 9:03 am Eastern Time
Company Press Release
Abaxis' VetScan Blood Analysis System Named "Outstanding New Formulary Product" By VetSmart
SUNNYVALE, Calif.--(BUSINESS WIRE)--Dec. 3, 1997--ABAXIS Inc. (Nasdaq:ABAX - news), a medical products company manufacturing point-of-care blood analysis systems, Wednesday announced that its VetScan Blood Analysis System has been named ''Outstanding New Formulary Product'' by VetSmart Pet Hospital & Health Care Centers, one of the leading full service veterinary hospital groups in the nation.
The award, ''Outstanding New Formulary Product,'' is determined by input from on-site clinical personnel throughout VetSmart and is limited to those products that help the VetSmart veterinarians practice superior quality medicine. The presentation was made on Sept. 24, 1997, at the VetSmart annual Educational Symposium held in Nashville, Tenn.
Other nominees in the category of ''Outstanding New Formulary Product'' were Bayer Animal Health, a division of Bayer Corp., for Advantage, a prescription product for controlling flea infestation; Merial, a division of Merck & Co., for Heartgard Plus, a chewable treatment for canine heartworm; and Pfizer Inc. [NYSE:PFE - news] for Rimadyl, a treatment for canine arthritis.
Clint Severson, chief executive officer of ABAXIS, commented: ''We are very pleased to be the recipient of VetSmart's award for 'Outstanding New Formulary Product' particularly since the other companies in the category are all global firms with worldwide distribution. To be singled out and recognized as the best by veterinary practitioners who work with all sorts of products every day is a real honor for ABAXIS.
''Our relationship with VetSmart began in March of this year with an agreement to provide VetSmart with an order of 105 VetScan analyzers and 80,000 reagent discs for use in VetSmart pet hospitals to be delivered over a 12-month period. VetSmart uses the VetScan system as part of its Wellness Program to first, establish base-line clinical parameters for each animal, and then to monitor these parameters twice a year for early indications of disease. Through October of 1997, ABAXIS had installed 102 VetScan systems and shipped approximately 35,000 reagent discs to VetSmart pet hospitals located in PetSmart stores nationwide.
''VetScan systems were chosen because their ease of use and reliability allows VetSmart to establish a very high standard of service at each installation site regardless of the expertise of the personnel at any of the locations. Because of their systemwide use of VetScan systems, their use of reagent discs is typically higher than individual veterinarian practices and we highly value their recognition of our determination to deliver products that provide quality instantaneous results.''
Founded in 1989, ABAXIS develops, manufactures and markets portable blood analysis systems for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 6.9 kilogram, portable analyzer and a series of 8 cm diameter single-use plastic disks, called reagent discs, which contain all the reagents necessary to perform a fixed menu of tests. The system can be operated with minimal training and perform multiple tests on whole blood using either venous or fingerstick samples. The system provides test results in less than 14 minutes with the precision and accuracy equivalent to a clinical laboratory.
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Contact:
ABAXIS Inc., Sunnyvale
Ting Lu, 408/734-0200
or
Coffin Communications Group
John Muir, 818/789-0100
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